Donald
Teuma-Castelletti
OTTER LAKE Jan. 18, 2018
Those looking to one day take over the family farm or help others make important financial decisions while selling their agriculture business had the opportunity to learn the ins and outs of everything that goes into such heavy decisions, from the money right through the emotions that will accompany the transaction.
Around 10 people attended such a presentation at the Old Depot in Otter Lake on Jan. 18, when the president of Groupe Agristratégies led the discussion and answered individual questions for those that came out.
Yves Chagnon, president of the consulting group, broke his presentation into four categories: human, finances, legal and taxes and banking.

Chagnon started the day with the category that business owners tend to overlook, the human aspect, in the sense of emotional and psychological attachment, as well as interfamily relations.
“The main thing when I work with a new client is I try to understand the human,” he said. “You don’t transfer a retail business to an engineer. They will not be comfortable.”
He said this becomes more difficult when parents are looking to sell their farm to their children – while the parents want to see things continually done in their fashion, their children may have new methods in mind or an interest in taking the business in a new direction. Often, this will lead to many uncomfortable dinner tables, he said, however it takes strict guidelines and understanding from both sides of the bargaining table in order to move the deal forward.
“One of the big problems in agriculture is the emotional side,” said Chagnon.
He suggested that it’s ideal for both parties, whether it be parents and their children, other family relationships, or even two strangers, that they come to the bargaining table with a clear mind for what they plan to do with the business. As well, he suggested both sides be available for open communications within strict, planned periods of time. This will prevent short conversations in passing or disruptive, explosive disagreements at family events.
Working with both the people in the room and using examples from his past dealings, Chagnon provided clear examples for everyone to follow along with, helping humanize certain topics like the emotional aspect of selling a farm to someone with a different business plan and the importance of getting children involved with all levels of the business, from operating machinery to understanding finances.
Chagnon himself grew up on a dairy farm, before establishing his own career in the world of banking. He eventually made the transition to work as an agronomist before starting Groupe Agristratégies in 2011.
The presentation was put on by the SADC Pontiac, in response to a recent survey that found most aging business owners did not have a plan in place to make sure someone would inherit, buy out or otherwise ensure the survival of their operation. This was another event in their year focused on agriculture.
“[Our hope] is that they go away with some new knowledge and that they feel that there is support available,” said SADC Pontiac director general Rhonda Perry. “Hopefully they’ll get some new contacts, as there’s a natural synergy in the room.”